Analyst Predicts Potential Price Targets for Solana After 77% Crash

A recent analysis by Crypto Patel has provided insights into the potential future of Solana's price movement. The analyst, who previously warned about a potential top in the $200-$250 zone, shared his chart outlining both the reasons behind the crash and what he believes could come next for Solana.

According to Patel's analysis, the recent bounce above $72 indicates buyers are defending this zone, which could signal that the worst of the selloff may already be behind the market. The most important level in his outlook is the $72 support area, and as long as Solana holds above it, he believes bulls could regain control and potentially start building a new upward trend.

However, Patel also outlines a bearish alternative, where if Solana loses the $72 support, the price may move towards sub-$50 levels. Despite the severe correction, Patel remains bullish on Solana's long-term potential, projecting that it could eventually reach $500 and even $1,000+, representing a massive move from current prices.